A.G. Gancarski
At Jacksonville City Council last Tuesday, there was some concern expressed that, because of a $326,000 shortfall of property tax revenue, the Finance Committee would have to tweak the budget accordingly on Monday.
That may not need to happen.
“I think we can make up the difference on the Ad Valorem decrease if we revise the County and Muni Sales Tax estimates accordingly. I am observing a strong finish in both for FY15; this does not even include the payment for month 12,” observed COJ Budget Analyst Julio C. Lacayo, Jr.
In the last couple of years, this revenue sector has shown strong growth, reversing trends of the previous couple of years. There has been an almost 9% year over year growth already between FY 14 and FY 15.
In an email to Sam Mousa, Chief Financial Officer Mike Weinstein confirmed the read.
“I have looked at the numbers and they can easily handle the additional almost $326,000 adjustment,” Weinstein wrote the Chief Administrative Officer.
Net actual revenue exceeds $21.189 million with a month to go in the Fiscal Year accounting.
